Aankondiging • Dec 24
Rapiscan Holdings, Inc. entered into a definitive agreement to acquire Certain Assets of VOTI Detection Inc. Rapiscan Holdings, Inc. entered into a definitive agreement to acquire Certain Assets of VOTI Detection Inc. on December 22, 2022. The closing of the acquisition is subject to certain standard conditions and is expected to take place on or about December 22, 2022. The Sale Proposal is subject to the issuance by the Superior Court of Quebec of a final and executory approval and vesting order at OSI's entire satisfaction. As per filling on December 23, 2022, Superior Court of Quebec approved the deal. Osler, Hoskin & Harcourt LLP acted as legal and Stifel GMP acted as financial advisor to VOTI. Reported Earnings • Sep 30
Third quarter 2022 earnings released: CA$0.013 loss per share (vs CA$0.023 loss in 3Q 2021) Third quarter 2022 results: CA$0.013 loss per share (improved from CA$0.023 loss in 3Q 2021). Revenue: CA$4.79m (down 15% from 3Q 2021). Net loss: CA$829.7k (loss narrowed 18% from 3Q 2021). Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Member of Advisory Board Joe Paresi was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. Member of Advisory Board Joe Paresi was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jun 15
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: CA$0.026 loss per share (up from CA$0.10 loss in 2Q 2021). Revenue: CA$4.61m (down 22% from 2Q 2021). Net loss: CA$1.35m (loss narrowed 53% from 2Q 2021). Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 50%. Over the next year, revenue is forecast to grow 54%, compared to a 18% growth forecast for the industry in Canada. Aankondiging • Jun 14
VOTI Detection Inc. Removes Earnings Guidance for the Year 2022 VOTI Detection Inc. removing earnings guidance for the year 2022. Given the current environment, the company removing previously released guidance for the 2022 fiscal year, including guidance pertaining to annual revenue, gross margin and expectation that the company will exit fiscal 2022 EBITDA positive. Aankondiging • May 26
VOTI Detection Inc. Provides Earnings Guidance for the Second Quarter of 2022 VOTI Detection Inc. provided earnings guidance for the second quarter of 2022. This update is necessitated by the fact that the softness experienced in the first quarter of fiscal 2022, primarily related to the impact of the Omicron variant and the resulting slower than expected recovery from the pandemic, has extended into the second quarter. The timing of a return to more normal markets remains uncertain at this time. As a result, second quarter revenues are expected to fall below the expected $6 million level to a range of between $4.575 million and $4.7 million. At the same time, the company has experienced an erosion in its gross margins, with gross margins in the second quarter expected to range between 25.5% and 27%. Aankondiging • May 25
VOTI Detection Inc. to Report Q2, 2022 Results on May 31, 2022 VOTI Detection Inc. announced that they will report Q2, 2022 results on May 31, 2022 Price Target Changed • Apr 27
Price target decreased to CA$0.35 Down from CA$0.70, the current price target is provided by 1 analyst. New target price is 233% above last closing price of CA$0.10. Stock is down 80% over the past year. The company is forecast to post a net loss per share of CA$0.05 next year compared to a net loss per share of CA$0.17 last year. Reported Earnings • Apr 01
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: CA$0.03 loss per share. Revenue: CA$4.28m (down 32% from 1Q 2021). Net loss: CA$1.19m (loss widened 5.3% from 1Q 2021). Revenue missed analyst estimates by 32%. Earnings per share (EPS) exceeded analyst estimates by 13%. Over the next year, revenue is forecast to grow 35%, compared to a 32% growth forecast for the industry in Canada. Aankondiging • Mar 30
VOTI Detection Inc. announced that it has received CAD 2.357615 million in funding On March 29, 2022, VOTI Detection Inc. closed the transaction. The company issued 15,717,434 units at a price of CAD 0.15 per unit for gross proceeds of CAD 2,357,615. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.20 per Common Share for a period of 36 months from the closing date of the Offering and agent's warrant is exercisable to acquire one common share at the offering price for a period of 36 months from the closing date of the offering. Reported Earnings • Mar 03
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: CA$0.17 loss per share (up from CA$0.25 loss in FY 2020). Revenue: CA$23.7m (up 25% from FY 2020). Net loss: CA$6.06m (loss narrowed 10.0% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Over the next year, revenue is forecast to grow 24%, compared to a 41% growth forecast for the industry in Canada. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Aankondiging • Feb 26
VOTI Detection Inc. to Report Fiscal Year 2021 Results on Feb 28, 2022 VOTI Detection Inc. announced that they will report fiscal year 2021 results on Feb 28, 2022 Aankondiging • Feb 18
VOTI Detection Inc. announced that it expects to receive CAD 4 million in funding VOTI Detection Inc announced a brokered private placement of up to 19,047,620 units at CAD 0.21 per unit for gross proceeds of up to approximately CAD 4,000,000 on February 17, 2022. The transaction will include participation from accredited investors. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of CAD 0.27 per common share for a period of 24 months from the closing date of the transaction. The transaction is expected to close on or about March 8, 2022. The company will pay a finder's fee equal to 8% of the aggregate gross proceeds of the transaction, and will issue broker warrants equal to 8.% of the number of units sold under the transaction, each exercisable to acquire one common share at a price of CAD 0.42 per common share for a period of 24 months from the closing date of the transaction. Aankondiging • Feb 15
VOTI Detection Inc. Matrix Scanning Systems Receive Approval from Major U.S. Federal Agency VOTI Detection Inc. (‘VOTI’ or the ‘Company’) announced that its XR3D-60s and XR3D-60 MATRIX Small Package X-Ray scanning systems have been approved for purchase by a large U.S. federal agency with global facilities. VOTI's systems are being offered to these facilities around the world as an alternative solution to the current small package X-ray scanners currently in use by the agency's network. The U.S federal agency's approval follows VOTI's recent deal with Global Affairs Canada, and cements the company's position as a key supplier of security equipment to top tier government agencies. Board Change • Dec 31
High number of new directors Member of Advisory Board Joe Paresi was the last director to join the board, commencing their role in 2019. Breakeven Date Change • Nov 25
No longer forecast to breakeven The 2 analysts covering VOTI Detection no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of CA$200.0k in 2022. New consensus forecast suggests the company will make a loss of CA$2.90m in 2022. Reported Earnings • Sep 30
Third quarter 2021 earnings released: CA$0.02 loss per share (vs CA$0.072 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: CA$5.60m (up 45% from 3Q 2020). Net loss: CA$1.01m (loss narrowed 48% from 3Q 2020). Price Target Changed • Aug 04
Price target decreased to CA$1.03 Down from CA$1.58, the current price target is an average from 2 analysts. New target price is 105% above last closing price of CA$0.50. Stock is down 2.0% over the past year. Reported Earnings • Jul 01
Second quarter 2021 earnings released: CA$0.10 loss per share (vs CA$0.013 loss in 2Q 2020) The company reported a mediocre second quarter result with increased losses and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CA$5.88m (up 38% from 2Q 2020). Net loss: CA$2.89m (loss widened CA$2.54m from 2Q 2020). Executive Departure • May 26
Founder & CTO William Awad has left the company On the 21st of May, William Awad's tenure in the role of Founder & CTO ended. We don't have any record of a personal shareholding under William's name. William is the only executive to leave the company over the last 12 months. Aankondiging • May 07
VOTI Detection Inc. announced that it has received CAD 4.275012 million in funding On May 6, 2021, VOTI Detection Inc. (TSXV:VOTI) closed the transaction. Aankondiging • Apr 16
VOTI Detection Inc. announced that it expects to receive CAD 4.000038 million in funding VOTI Detection Inc. (TSXV:VOTI) announced a brokered private placement of up to 9,523,900 units at CAD 0.42 per unit for gross proceeds of up to approximately CAD 4,000,038 on April 15, 2021. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of CAD 0.70 per common share for a period of 24 months from the closing date of the transaction. The transaction is expected to close on or about May 6, 2021. Major Estimate Revision • Apr 07
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 expected loss increased from -CA$0.03 to -CA$0.06 per share. Revenue forecast unchanged at CA$28.1m. Electronic industry in Canada expected to see average net income growth of 36% next year. Consensus price target of CA$1.03 unchanged from last update. Share price rose 28% to CA$0.59 over the past week. Reported Earnings • Apr 03
First quarter 2021 earnings released: CA$0.04 loss per share (vs CA$0.083 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: CA$6.32m (up 4.7% from 1Q 2020). Net loss: CA$1.13m (loss narrowed 49% from 1Q 2020). Aankondiging • Apr 01
VOTI Detection Inc. Reaffirms Earnings Guidance for the Full Year 2021 VOTI Detection Inc. reaffirmed earnings guidance for the full year 2021. The company maintained forecast for this current fiscal year, of a return to pre-pandemic levels both in sales and gross margins, resulting in expected positive Adjusted EBITDA for the full year 2021 (barring any further unforeseen negative impact or escalation of COVID-19). In addition, the company is forecasting positive cash flow from operations for the full year. Reported Earnings • Feb 26
Full year 2020 earnings released: CA$0.25 loss per share (vs CA$0.18 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$19.0m (down 33% from FY 2019). Net loss: CA$6.74m (loss widened 57% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 40%, compared to a 5.4% growth forecast for the Electronic industry in Canada. Is New 90 Day High Low • Feb 26
New 90-day high: CA$0.58 The company is up 81% from its price of CA$0.32 on 27 November 2020. The Canadian market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 37% over the same period. Aankondiging • Feb 23
VOTI Detection Inc., Annual General Meeting, Apr 30, 2021 VOTI Detection Inc., Annual General Meeting, Apr 30, 2021. Aankondiging • Feb 18
VOTI Detection Inc. to Report Fiscal Year 2020 Results on Feb 23, 2021 VOTI Detection Inc. announced that they will report fiscal year 2020 results on Feb 23, 2021 Aankondiging • Jan 15
VOTI Detection and Pacers Sports & Entertainment Announce Partnership to Deliver Lower-Contact Guest Screening At the Fieldhouse VOTI Detection Inc. and Pacers Sports & Entertainment announced a partnership to provide a lower-touch security and screening process for guests attending Bankers Life Fieldhouse events. Additionally, the partnership means the Pacers will be the first professional sporting team to leverage VotiINSIGHTSTM – VOTI's web-based platform for the centralized, remote management and analytics of VOTI Detection's XR3D scanners. Major Estimate Revision • Oct 01
Analysts lower revenue estimates to CA$18.8m The 2020 consensus revenue estimate decreased from CA$21.5m. Earnings per share (EPS) also decreased, with analysts lowering their estimates from -CA$0.15 to -CA$0.22 for the same period. The Electronic industry in Canada is expected to see an average net income growth of 32% next year. The consensus price target was lowered from CA$1.58 to CA$1.03. Share price is down by 23% to CA$0.31 over the past week. Reported Earnings • Sep 26
Third quarter earnings released Over the last 12 months the company has reported total losses of CA$5.83m, with losses narrowing by 8.6% from the prior year. Total revenue was CA$19.5m over the last 12 months, down 32% from the prior year. Is New 90 Day High Low • Sep 26
New 90-day low: CA$0.30 The company is down 50% from its price of CA$0.60 on 23 June 2020. The Canadian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Aankondiging • Sep 22
VOTI Detection Inc. to Report Q3, 2020 Results on Sep 24, 2020 VOTI Detection Inc. announced that they will report Q3, 2020 results on Sep 24, 2020